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You must set up several options for each master fund that uses set rate distributions prior to posting distributions, and must identify a base class at the share class level.

Update Master Funds

When you create or edit master funds that use a set rate distribution method, ensure you review the master fund's Fund Distribution Fields settings. You can use the Create Master Fund panel or the Edit Master Fund/Sector panel to set up master funds for NII distributions.

To set up a master fund for set rate distribution processing:

  1. In Accounting Center, in the left navigation pane, click Setup > Portfolio Setup > Mutual Funds > Create Master Fund.
    You see the Create Master Fund panel where you can add a master fund. Otherwise, you can select the Edit Master Fund/Sector option to change a master fund.
  2. In the Daily Distribution Method list, click Set Rate. 
    When you use this method, the system identifies the daily distribution as a set rate. The system calculates and reports a set distribution rate for each class of a multi class fund based on the base class rate. If you select this option, the Fixed/NII Distribution Shares fields becomes available.
  3. In the Fixed/NII/Set Rate Distribution Shares list, select the share base of the set rate distribution. 
    Options include: 
    - Outstanding Shares 
    - Settled Shares
  4. Complete the remaining options in the panel, as appropriate. 
  5. Click Submit.

For a complete list of the Fund Distribution Fields options and other panel options, see Create Master Fund Panel Options.

Identify the Base Class

When you set up master funds and share classes that use set rate distributions, you must identify a specific share class as the base class for that master fund. You can access the Base Class (tag 12013) option in the Create Master Fund panel and the Entity Share Class Information panels. You must set this field to Yes for a selected share class to identify it as the base share class for an entity.

For a description of all share class options, see Create Entity Share Class Information Panel Options.


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